HB6858 Summary

• Allows Enterprise Zones to be extended for an additional 20 years upon application by the county or municipality that designated the zone, with extensions included when calculating exemption periods.

• Increases the maximum tax exemption period under the Retailers' Occupation Tax Act from 20 years to 50 years for businesses located in Enterprise Zones meeting specified investment or job creation requirements.

• Increases the maximum utility tax exemption period under the Public Utilities Act from 30 years to 50 years, capped at the certified Enterprise Zone term including any extensions, except for certain high-impact manufacturing businesses.

• Makes conforming changes to tax exemption provisions in the Retailers' Occupation Tax Act and Public Utilities Act to align with Enterprise Zone extension provisions.